Manganese ore prices gave up recent gains on Friday August 31 amid buyer resistance to recent offer prices, while alloy prices were steady or higher week on week.
Ore prices drop as much as 10 cents in ChinaChinese physical manganese alloys markets tick up, futures weakenSilico-manganese prices rise in IndiaEuropean manganese alloys prices flatline Manganese ore prices dripped on Friday on poorer demand, leaving suppliers struggling to secure business with recent offer prices. Metal Bulletin's 37% manganese ore index, cif China slipped six cents to $6.56 per dry metric tonne (dmtu), while the 37% manganese ore index fob Port Elizabeth dropped 10 cents to $5.85 per dmtu. Metal Bulletin's 44% manganese ore index, cif Tianjin ticked down three cents to $6.87 per dmtu. "Prices are pretty stable for the time being. But it has been a harder sell than last week," a supplier told Metal Bulletin. Some of the low-grade weakness was attributed to traders starting to liquidate stocks, while the depreciation of the yuan against the dollar has deterred some buyers by making...